2012-10-06
2012-10-14
x obama
x benghazi

STATION
CNN 36
CNNW 36
FOXNEWS 31
MSNBC 24
MSNBCW 24
CSPAN 14
FBC 12
CNBC 8
CSPAN2 6
KPIX (CBS) 5
WETA 4
WUSA (CBS) 4
KQED (PBS) 3
WMPT (PBS) 3
( more )
LANGUAGE
English 261

Set Clip Length:


in 1986 but are staring us in the face today. first, a much larger and much more dangerous deficit and second, a dramatic increase been income and inequality. old-style tax reform could make both conditions worse. but don't dismiss the old framework lightly. credit for the 1986 reform law belongs to democrats like bill bradley in the senate. just as much as to president reagan. as a member of the house back then, i not only voted for it, but i whipped the votes to make sure it passed. i was on the committee set up by dan rostenkowski to get it done. the approach made a good deal of sense at the time. then, as now, the code was littered with egregious loopholes that needed to be reformed. recall the so-called passive law schools that were in place back then. they allowed wealthy taxpayers to gain the system. someone could invest in a bowling alley and then, if the bowling alley lost money, they could take a write off many times larger than their initial money incestment of their entire income tax liability. we need to get rid of such a gimmicky tax shelter. paring these loopholes al

toomey how the deficit is going to play a role in the depate. he was a member of the super committee. plus memorable moments from past vice presidential debates like this one from 1988. >> senator, i served with jack kennedy, i knew jack kennedy. jack kennedy was a friend of mine. senator, you're no jack kennedy. hey. hey eddie. i brought your stuff. you don't have to do this. yes i do. i want you to keep this. it'd be weird. take care. you too. [ sighs ] so how did it go? he's upset. [ male announcer ] spend less time at gas stations with best in class fuel economy. it's our most innovative altima ever. ♪ try this... bayer? this isn't just a headache. trust me, this is new bayer migraine. [ male announcer ] it's the power of aspirin plus more in a triple action formula to relieve your tough migraines. new bayer migraine formula. [ male announcer ] why do more emergency workers everywhere trust duracell...?? duralock power preserve. locks in power for up to 10 years in storage. now...guaranteed. duracell with duralock. trusted everywhere. extra curricular activities help provide a

not how we tackle our deficit. >> the pressure now mounting on joe biden with the kentucky clash just over 24 hours away. can he seal the deal or is he facing a mission impossible? even with the a-team linking arms the president's campaign is sticking by its own balance plan and calling reinforcements to gear up. >> i would tell them to take whatever nervous energy they have and whatever hand wringing they will do over the next 24 to 48 hours and put that into a real effort to get this president re-elected. the president can't do it by himself. >> obama has to stand and deliver and nobody can do it for him. >> can the president recover? >> right. >> can he come back and be president on the stage with the contender mitt romney? >> how great is it for barack obama, look at this positively, he's the underdog now. the president of the united states is now the underdog. >> mitt romney will be stump thing hour in battleground ohio with the fiery surrogate chris christie who will be bringing what some on the left call his own jersey shore brand of gtl. go tell lies. meanwhile, romney's

the government deficit topped $1 trillion once again. the treasury says the deficit was roughly 7% of gdp and, larry, the nobel peace prize goes to the eu. the nobel committee gave the prize to the european union acknowledging the 27 blocks advancement and a peace and reconciliation and i know a lot of people think this is ridiculous, but when you think about the history there and the fact that these countries 100 years ago and what they're doing is hard, maybe it's a reminder. >> they should have given them to them 70 years ago and this is the wrong time and i'll talk about that with my pal jimmy pathkuke as. >> my only personal view is it's a ridiculous thing so i've asked cnbc contributor jim pathkukas to come back. at this moment in time with the growth of welfare states and socialism and bankruptcy and bailouts i wouldn't give the european union an award of any kind. what this k this nobel peace prize people be possibly thinking? >> given what you just said and the fact, the eu could still break apart and maybe this is like a parting gift when people are on a game show and given a partin

by the end of the decade. get this deficit and debt under control. make trade work for america. champion small businesses, do not raise taxes on small businesses. they are our job creators. he talks about detroit. mitt romney is a car guy. this is a guide who i was talking to a family in massachusetts the other day. their kids of work hid in a car crash. two of them were paralyzed. they went to the same church. mitt asked if he could come over on christmas. he brought his boys and his wife and deaths. i know you are struggling, do not worry about college, i will pay for it. mitt romney does not tell these stories. it was not the cash, he gave his time and he has consistently. this is a man who gave 30% of its income to charity, more of the two of us combined. he is a good man. he cares about 100% of americans in the country. the vice president knows that sometimes the words did not come out of your mouth the right way. [laughter] >> i always say what i mean. >> we want everybody to succeed. we want to get everybody out of poverty. we believe an opportunity. that is what we're going to pu

for 10% of the deficit spending increases. lower tax rates across the board and close loopholes. we have three bottom lines. do not raise the deficit, do not raise taxes on the middle class, do not lower the share that is borne by the high income earners. it has been discredited by six other studies and even their own deputy campaign manager acknowledged that it was not correct. >> let's talk about this. you have refused to offer specifics on how you would pay for that 20% across the board. do you actually have the specifics or are you still working on it? >> different than this administration, we want to have a big bipartisan agreement. >> do you have the specifics? >> look at what ronald reagan and tip o'neill did. we raise about $1.20 trillion through income taxes. we forgo about $1.10 trillion in loopholes and deductions. deny those loopholes and deductions to higher income tax payers. so we can lower tax rates across the board. >> i hope i am going to get time to respond. >> we want to work with congress on how best to achieve this. >> no specifics. >> lower tax rate 20%. start with

means blowing up the deficit or raising taxes on middle-class families. one or the other. pick your poison. last week, mitt romney said, there is no addition to the deficit with my tax plan. if he says it is not true, then it is not true. ok. it is true that it is not going to add to the deficit, that leaves only one option. that is asking middle-class families to foot the bill by getting rid of the deductions for owning a home, raising kids, or sending them to college. as it turned out, most folks do not like that idea either. just last week, on stage, governor romney decided that instead of changing his plan, he would pretended did not exist. what $5 trillion tax cut? i do not know anything about that tax cut. pay no attention to the tax cut under the carpet, behind the curtain. when he was asked how he would cut the deficit, he said he could make the math work by eliminating local public funding for pbs. by the way, this is not new. this is what he has been saying every time he is asked a question. we can cut out pbs. for all you moms and kids out there, do not worry. somebody is

questions about his negotiations with the republicans on the financial and debt and deficit issues. and he was tuned in. he answered, he gave his side. he gave his defense. the obama -- the other night in this debate -- it was almost like there were two channels going in his mind, one on the debate and answering in the way he did, which just didn't fit together. and then when he was looking down, it's almost like something else was deeply worrying him. now, i don't know that. the point is, you know, why would he be so out of it in clearly one of the most important political moments of his life? >> sean: it is a really good question. i think -- i think he was shocked because mitt romney looked him dead in the eye, was very deep in the facts. i mean, it was just the opposites of john mccain, in the mccain debate, obama was looking mccain in the eye and mccain looking down or out at the crowd. very different in terms of the body language. on substance, romney was very knowledgeable, across the board, every question and was willing to take the president on. i don't think he is used to that? >>

and managing deficits and on unleashing the forces of innovation. from everything i've seen the u.k.'s first coalition government since churchill is meeting these challenges head-on. in the face of the most challenging economic times we have experienced in decades this is a government that is clearly not afraid to leave. and in 2010 when david cameron went down the british economy and the entire european union was in dire straits. since then as we keep reading most national governments have tried to ride out the storm buy simply putting down the hatches and hoping that the sky is will return quickly. the governments have charted a new courses that will lead them to clear skies and i think the united kingdom has been an exception and the conservative party has been the reason. [applause] prime minister kim and together with his chancellor of george osborn are creating a new course for britain. it's not easy work, and i can appreciate how hard it is to step into a crisis and make the tough decisions to overcome. i first took office in the three months after the attack of my 11 -- 9/11. we lost

would add to the deficit and romney insists it is absolutely not true. >> he said if he says it's not true, then it's not true. okay. >> reporter: in battleground ohio, president obama insists mitt romney's tax cut will add $5 trillion to the deficit. >> if it's true that it's not going to add to the deficit, that leaves only one option and that's asking middle class families to foot bill. >> reporter: the president's charge of a $5 trillion tax cut is obviously inaccurate and wrong. >> reporter: romney also in ohio mocked the obama campaign's mocking his plan to cut funds for pbs. >> big bird. >> big bird. >> big bird. >> he's focused on saving big bird. kind of a strange thing in my view because you see i'm focused on helping the american people get good jobs. >> reporter: sesame's street now asked the obama campaign to pull the big bird ad, yet there are weightier questions here as congress looks in to whether the u.s. was warned of the deadly libya attack. >> twice in the six month lead up, you had bombings at our compound there in benghazi and it's 9/11 in libya. what other

dust of trickle-down economics will somehow erase any damage to the deficit or hold harmless the middle class -- it is a mirage. it is not realistic. the broader issues of tax reform are something that very much interest the president of united states, but has always -- his approach is always that everyone has to pay their fair share, everyone has to pay their -- everyone has to get a fair shot. in the debate he is having with the election and has been having with republicans on capitol hill, if we take a balanced approach that includes increased revenues by asking millionaires and billionaires to pay a little bit more, we can reduce our deficit significantly -- $4 trillion -- while making sure that the middle class does not have its taxes go up and making sure that we invest in education and infrastructure and innovation. the alternative choice that has been presented is that we should lower taxes for millionaires and billionaires and in order to pay for that, we have to turn medicare into a voucher program. we have to get investments in education and innovation, research and developme

and that that, we can do that on a basis which won't increase the deficit. that was their position as i said for 99% -- >> but still his position -- >> hold on, joe, and you cannot do that as a mathematical matter without raising the tax burden on the middle class, it's not possible and all this debate about my studies and your studies is not possible, as bill clinton said at the democratic convention it's arithmetic. >> can we taxle the deficit without affecting the middle class? >> if i were vice president biden i'd put that back on the table and push it because it's too late to change your position 30 or 40 days before the election in a campaign that's gone, you know, for a year and a half. it's too late especially on an issue which you've been talking about every single day for those 18 months. it's too late. i'd take the view you can't change your position on something like that 30 days before the election, you can't change your position on repealing every fapset of obama ca facet of obama care or every facet of dodd-frank. we have a debate tonight, so to say nevermind, that doesn't wor

% gdp growth after you get to an almost 10% deficit spend of $3 trillion out of deficit stimulus, it's not robust growth. what happens in this election is important. clearly people have to get out and vote. what's going to happen on this groundwork and infrastructure of our economy over the next four years is going to be crucial for future generations. >>. no, it's not about infrastructure. it has nothing to do with infrastructure. david, it has to do with mitt romney's brilliant tax reform plan to lower the rates and broaden the base and cap the deductions. we're going to talk about that in the next segment with arthur laffer and jared bernstein. but don't you think there's potential here for a political and economic revolution? and if a pro-growth revolution comes, american entrepreneurs, american small businessmen and women are poised, they are poised to torque up the animal spirits and give this a great lift. i think people in the stock market are missing this, david goldman. >> larry, markets have never been good about predicting elections and discounted them. but the fact is, w

they need for the jobs they want. get the deficit and debt under control to prevent a debt crisis. make trade in america and sell things overseas and champion small businesses. don't raise taxes on small businesses because they are our job creators. he talks about detroit. mitt romney's a car guy. they keep misquoting hip. let me tell but the mitt romney i know. this is a guy who i was talking to a family in north borough, massachusetts, sherylin mark-nixon. their kids were hit in a car crash, four of them. two of them were paralyzed. the romneys didn't know them. they never met. mitt asked to come over for christmas. he brought his boys, his wife and gifts. later on, he said, i know you are struggling, mark, don't worry about their college, i will pay for it. when mark told me this story -- mitt romney doesn't tell these stories. the nixons told me this story. when he told me the story, it wasn't the cash help, it's that he gave his time and he has consistently. this is a man who gave 30% of his income to charity, more than the two of us combined. mitt romney's good man. he cares about

independent. help people who are hurting get the skills they need to get the jobs they want. get the deficit under control. make trade work for america, and champion small businesses. don't raise taxes on small businesses because they are our job creators. he talks about detroit. mitt romney is a car guy. let me tell you about the mitt romney i know. this is a guy who i was talking to a family in massachusetts the other day, cheryl and mark nixon. their kids were hit in a car crash, four of them two of them rob and reid were paralyzed them. the romneys didn't know them. he asked if he could come over at christmas. he brought his boys and gifts. he said i know you are struggling don't worry about their college, i'll pay for it. mitt romney doesn't tell these stories. when the nixons told this story it was that he gave his time. mitt romney is a good man. he cares about 100% of americans in this country. and with respect to the quote, i think the vice president very well knows that sometimes the words don't come out of your mouth the right way. [ laughter ] >> biden: but i alwa

will do little to cut the deficit. >> somebody is finally getting tough on big bird. rounding him up. elmo's got to watch out too. >> reporter: but elmo is not tickled. sesame street's producers released a statement saying it's not taking sides adding we have approved no campaign ads and as is our general practice, have requested that the ad be taken down. republicans are now calling it the big bird backfire. >> i just find it troubling that the president's message -- the president's focus 28 days from election day is big bird. >> reporter: romney's advisors say it's a surprising tactic given what then-senator obama said in his convention speech in 2008. >> if you don't have a record to run on, then you paint your opponent as someone people should run from. you make a big election about small things. >> reporter: the romney campaign also believes the candidate is connecting better with voters. here getting choked up talking about navy seal glenn dougherty who died in a consulate attack in libya, a man romney said he once met. >> you can imagine how i felt when i found out that he was one o

last year doubled their taxes this year, we would still have a $300 billion deficit. you see, there aren't enough rich people and small businesses to tax to pay for all their spending. and so the next time you hear them say, don't worry about it, we'll get a few wealthy people to pay their fair share, watch out, middle class, the tax bill is coming to you. that's why we're saying we need punishment tax reform. let's look at it this way. 8 out of 10 businesses, they file their taxes as individuals, not corporations. where i come from overseas, which is lake superior, the canadians, they drop their tax rates to 15%. the average tax rate on businesses in the industrialized world is 25% and the president wants the effective top tax rate to go above 40%. 2/3 of our jobs come from small businesses. this one tax would actually fax about 53% of small business income. it's expected to cost us 710,000 jobs. and it doesn't even pay for 10% of the proposed deficit spending increases. we're saying close loopholes primarily to the higher income people. we have three bottom lines. don't rai

. if five. plan. get the energy in ag -- get american energy independent. get this deficit and debt under control to prevent a debt pricecrisis. make things in america and sell them overseas. do not raise taxes on small businesses because they are our job creators. he talks about detroit. mitt romney is a car guy. they keep misquoting him but let me tell you about the mitt romney i know. this is a guy who was talking to a family in massachusetts the other day, sheryl and mark nixon. their kids were hit in a car crash, two of them were paralyzed. romney's did not know them. it went to the same church, they did not know them before. he brought his boys and wife and gifts. he said i know you are struggling. i will pay for college. the nixons told me the story. when he told me the story, he said he gave time. he gave 30% to charity. mitt romney is a good man. he cares about 100% of americans in this country. with respect to that quote, the vice-president knows that sometimes you're words do not come out of your mouth the right way. [laughter] >> but i always say what i mean. >> i want to get

not cut taxes at all if they added to the deficit at all. now, as "the washington post" reporter checks out, for two years romney has been campaigning on a tax cut that would cost around $5 trillion over ten years. romney said he would eliminate deductions and cut spending to pay for it. he never offers details. he did say he would cut funding for public broadcasting which was 0.01% of federal spending in 2012. medicaid was 0.13%. romney also spoke in favor of regulations including much of the dodd/frank bill and he repeatedly held up as a model his health care plan in massachusetts which has added center the individual mandate and on which obama care is based. romney's transformation did not happen overnight. the candidate has been reworking his stump speech. in a very smart analysis, npr pointed out romney has a five point stump speech. the first four points are actually identical to obama's stump speech. two, domestic energy, three, retraining programs, four, domestic. -- deficit reduction. on five they differ. i've long argued that romney is an intelligent man trapped in a party tha

it. >> bill: no, we haven't balanced the debt! are you kidding me! we have a $1 trillion deficit! >> holding steady. >> bill: said a -- >> we had a surplus under clinton. >> bill: no, no, no, no. the debt wasn't xed out. you're mixing up the deficit with the debt. no, no, no, you're missing the deficit with the debt is yearly spending. the debt is cumulative. the debt wasn't wiped out. >> 1.7 trail in bush tax cuts, yes? that was -- >> bill: i'm not gog defend bush or the republican party. i'm going to tell you one thing, the highest tax revenues in the history of this nation occurred in 2007. the government got more money from we, the people, than any other time in history under the bush tax, the rich tax cuts. >> bill: after an hour at the podium, the two moved to more comfortable quarters. >> how is it that two personalities such as yourselves who are almost polar opposites politically, share a willingness to come together when congress can't? what advice would you give congress? [ applause ] [ laughter ] >> bill: what would you like for christmas, little boy? [ laughter ] get

so they don't add to deficits and says that he would do so in large part by curbing tax breaks on the rich. he also has promised not to raise taxes on the middle class. now, this triggered a pretty hot exchange between joe biden and paul ryan over whether it's mathematically possible. let's bring in christine romans to separate fact from fiction. good morning. >> good morning, randi. paul ryan claimed you could cut income taxes by 20% across the board and all while keeping this deficit neutral. listen to that fiery exchange. >> you can cut tax rates by 20% and still preserve these important preferences for middle class taxpayers. >> not mathematically possible. >> it is matmatically possible. >> the nonpolicy tax center says it's not mathematically possible with the amount of information we have about romney's tax plan. not possible to cut rates as much as he would like without deductions that would hurt the middle class. investment taxes and dividend taxes, which the romney campaign has said it wouldn't do. so, for those reasons, our verdict here is that it's false. you can't

years later left with massive deficits. during his time in the senate, the national debt went up by $16,000. he conceded that spending was a problem in the senate. we also have people who need to know how to work together. i learned to cut crime bills and the economy. my opponent said his job was to not democrats softly. he took this similar position in the senate, fighting efforts led by the then-senior virginia senator. when someone who will fight and that is what i will do is your next to none state senator. >> if mr. allen, your opening statement. >> thank you. it's much better future than what we are having to endure these days. that is why i put forward a detailed plan. my blueprint for america to get an economy and stronger jobs. the question is which one of us can be accounted upon. you may have read an article that was comparing our two governorships. the call me when the most accomplished modern governors with major improvements in public education, safety, welfare reform, and i described how worked with leaders in the other party to get results for the people. the bad economy

is already under way. >> here we go. tara, thank you so much. >>> controlling the deficit is one of the key issues of campaign 2012. this week, a group of bipartisan senators is meeting in virginia to try to keep the nation from falling off the so called fiscal cliff. the group of eight senators, four republicans and four democrats, is expected to meet for three days to try and reach a deficit reduction proposal that's acceptable to congress and the president. the fiscal cliff refers to budget control measures scheduled to take effect at year's end, including tax increases and spending cuts. >>> today attack now on the u.s. consulate in libya. one of the men responsible for the security of u.s. diplomatic in libya said he knew there were security issues there long before the deadly attack in benghazi. he's scheduled to testify tomorrow. sheryl atkinson has his story. >> reporter: lieutenant colonel andrew wood last set foot in libya in february to elite a security team with expertise in counterterrorism. from the moment he arrived, he says he saw chaos. >> shooting instances occurred. many

the skills they need to get jobs they want. get this deficit and debt under control to prevent a debt crise. make trade work for america so we can make more things in america and sell them overseas and champion small businesses. don't raise taxes on small businesses because they're our job creators. he talks about detroit. mitt romney is a car guy. they keep misquoting him, but let me tell you about the mitt romney i know. this is a guy who i was talking to a family in northboro, massachusetts, the other day. sheryl and mark nixon. their kids were hit in a car crash, four of them, two of them, rob and reid, were paralyzed. the romneys didn't know them. they went to the same church. mitt asked if he could come over on christmas. he brought his boys, his wife, and gifts. later on he said, "i know you're struggling, mark. don't worry about their college. i'll pay for it." when mark told me this story, because you know what, mitt romney doesn't tell this story. the nixons told this story. when he told me this story. he said it wasn't the cash help. it's that he gave his time and he has consiste

claimed that you can reduce our deficit through tax increases alone. he's never said that. the president and vice president have said we need to take the ballad propose, using the kind of frachlwork that bipartisan groups have suggested. whereas republicans have been very clear not one more penny, even from people like mitt romney to reduce the deficit. so our point isn't that you can increase taxes on wealthier people, and do the whole thing on the deficit. our point of review is that they should be asked to contribute a little more. go back to paying what they were in the clinton administration, when the economy was roaring. that's what we're saying. we support a combination of additional targeted cuts. but also revenue for folks who are doing very well to help reduce the deficit. because if you don't have one penny more from very wealthy people it means you sock it to everybody else. seniors on medicare pay more. less investment in our kids' education. and that's exactly the romney/ryan budget does. itzhaks it to the middle class and seniors, in order to give these tax breaks to very

to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? silverado! the most dependable, longest lasting, full-size pickups on the road. so, what do you think? [ engine revs ] i'll take it. [ male announcer ] it's chevy truck month. now during chevy truck month, get 0% apr financing for 60 months or trade up to get the 2012 chevy silverado all-star edition with a total value of $8,000. hurry in before they're all gone! >> i want to bring the conversation to the state of our economy, the number one issue here at home is jobs. the percentage of unemployed just fell 8% for the first time in 43 months. the obama administration had projected that it would fall below 6% now after the addition of close to a trillion dollars in stimulus money. will both of you level with the american people, can you get unemployment to under 6% and how >> i don't know how long it will take. we can and will get it under 6%. let's look at where we were when we came into office. the economy was in freefall. 9 milli

.s. >>shepard: specifics? >>guest: he is hailed as a deficit hawk but his own budget doesn't balance until 2040. the olson tws wll b 5 b eme is balanced. >> if you taking youroney, who do you give it to? joe biden and president obama or ryan and ey? ep bon t opant specifics? >>guest: what they --. >>shepard: you are saying you ll not mess with the deficit but you are not adding more tax money. if you don't add more money, how does it wor tabo.eaire >> stimulating the economy, the president has not laid out his plan and they are saying, why doesn't governor romney lay out hisplan. he has done it over and ovend h tedutcug rd >> i would rr ben t side of momentum. >> if you are driving across the country and you say you will do it in 15 years can you not do that unless you speed. that is what mitt romney is sayi >>shd:y saey ll tutit h ld. stands to reason that the american people would go, you should tell us how but they are not going to. >>guest: i think we will hear it from the vice predent. wdov il >>shepard: all right guys, john, john, everyone is john today. we will be in kentucky tomorrow.

administration does not really care about the deficit and how high it is getting. why would you raise the deficit when you owe so much money? it will bankrupt our country. host: what do you do a in redmond, ore.? caller: i am a full-time student at a community college and i also work at a fast-food restaurant to pay bills. host: where are you studying? caller: criminal-justice. host: where are you watching c- span at 6:00 a.m. in the morning in oregon? caller: i get up early allot. earlier, i was watching a different program, in b.c. i think, and i think there were a lot of very baidoa -- nbc, i think, and i think there were a lot of very biased reporters. i switched channels. host: is this your first time watching c-span? caller: no, it is now. i actually watched it a lot. host: that is there a studying criminal justice in redmond, ore.. next up is michael in springdale, another first-time voter. caller: i was flipping through the channels here and listening to a lot of individuals call in and one of the topics that came up is the military. and being a first-time voter, i want to say that as a v

the economy, on jobs, on federal spending and the deficit. and that poll was taken, most of that poll was taken before last week's debate which widely is seen as going to mitt romney. now, in california, the president last night actually mocked his own debate performance, poked fun at himself. take a listen to this. >> everybody here is such great friends, and they just perform flawlessly night after night. i can't always say the same. >> reporter: so the pressure's really on the president for the next presidential debate which will be, of course, next week. but first, the two number twos are going to go head to head thursday night in danville, kentucky. no one knows what to expect from that one. joe biden going at it with congressman paul ryan. we haven't seen these two go head to head before. so a lot going on this week with this foreign policy speech. a lot of fund-raisers out west with the president and then, of course, the big debate on thursday night. for "cbs this morning," i'm jan crawford in lexington, virginia. >>> california's governor is taking emergency steps to cut risin

for the economy. another important element is a private set her deficit. wow, another important reform has been to put into the constitution, a financial stability law, that means that the government is going to be more able to meet their objectives and to put a degree on the expand says and the deficit of the regional suspense, which is part of the issue because the expenditures from the central government, another part of the government in which you have tools in order to make them comply with your objectives. at the government has proper tools. and in the process of the fiscal situation as we see in this chart, we have a totally out-of-control deficits in the year 2009 with a deficit exceeding 11% of the gdp and now we are to reducing the step thursday of the very important issue and what the markets wonder if the capacity of the government to get to the 6.3%. there is a degree in the market and the capacity, but the government is confident that she can get this figure and i think it would be a very important message for the market. if it's able to comply with the objective of direction and

ryan on debt and deficit matters. have you ever found yourself debating him, you know, taking opposite sides on something, let's say, and if so, was he a tough debater? >> oh, wow. you have me scratching my head on that one. it's -- it would be a pretty odd day paul ryan and i would disagree on anything. he knows the budget better than just about everybody. he has a plan with governor romney for economic growth and although vice president biden is a veteran of 18 different presidential and vice presidential debates, he may score well on style but he's got the obama record to defend and not an easy evening for him on substance. and i think people are very impressed with paul ryan. i mean, here's a guy from the heartland of america. he knows the values and challenges of middle income families. and he's got a plan along with governor romney to put america back to work and quit spending money we don't have the children have better opportunities than we have had and -- >> let me jump in. >> i'm looking forward to tonight. >> on that plan, the question then is, does paul ryan need to be more

deficit and debt under control. make trade work for america to make more things in america and sell them overseas and champion small businesses. don't raise taxes on small businesses because they are the job creators. he talked about detroit. mitt romney's a car guy. they keep misquoting him. the mitt romney i know is a guy who i was talking to a family in massachusetts the other day, sheryl and mark nixson. their kids hit in a car crash, two of them parollized. mitt wanted to come over on christmas bringing his boys, his wife, and gifts. later on he said i know you're struggling, mark, don't worry about college. i'll pay for it. when mark told me the story because mitt doesn't tell the stories. when i was told the story, he said it was not the cash help, but that he gave his time and he has consistently. this is a map who gave 30% of the income to charity, more than the two of us combined. mitt romney's a good man and cares about 100% of americans in the country. with respect to that quote, i think the vice president very well knows that sometimes the words don't come out of your mouth

? >> i will -- the candidates how they will reconcile reducing the deficit, cut spending and still -- [inaudible] >> what are you doing to prevent trafficking and to stop it altogether? >> all day like event tomorrow on c-span2 to tell you about. the center for strategic and international studies looks at political transitions in north africa. this starts at 8:30 a.m. eastern. >> we are live at centre college in danville kentucky for the 2012 vice presidential debate between vice presidential bike and congressman paul ryan. the moderator, martha raddatz is almost ready to begin after giving the audience instructions to remain quiet during the debate. we are waiting for her to introduce the candidates announced the opening question. [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] .. [inaudible conversations] [background sounds] [background sounds] [background sounds] [inaudible conversations] [background sounds] [inaudible conversations] [background sounds] [inaudible conversa

of the major stumbling blocks which i've pointed out people have bought on to the theory as part of deficit reduction we ought to lower the top rate on the highest income people. you lose a ton of revenue there and you can't make it up unless you squeeze the middle class. so if you're going to start out by saying the first thing we do is lower the rate from say 35 to 28 as simpson-bowles does or 25 as ryan does it's virtually impossible do deficit reduction without hurting the middle class. my suggestion intended to break this deadlock, this gridlock we've had on getting a budget deal for the last year and a half, let's get off this thing that the first thing we do is say we're going to lower the top rate. in the presidential campaign, the president's campaigning on letting the rate on the highest income people go back to where it was in the clinton years, that makes sense. now some republicans are saying yeah, we may have to do that. that's the way to get a deal done. instead of the kind of gridlock we've had so far. >> now, one of the other issues is the fiscal cliff and the gang of eight

the president was running as a candidate four years ago, he looked at the deficits under president bush and found them to be excessive and unamerican. they're about half as large as the ones he has put in place over each of the last four years. he said he was going to cut the deficit in half. he doubled it. there's no question if he was going to be re-elect, we would see trillion dollar deficits again and again and again. our marshall debt now is almost the same as our total economy, our gdp. this slows down the economy. it makes it harder for businesses to grow and hire more people and to raise wages. so unlike the president, when i finally get this shot, i will cap federal spending. i will cut federal spend and get us on track to a balanced budget. thereby other differences as well. the government is planning on through obama care cutting medicare for our current retirees by $716 billion. i hi that's wrong. i think we must honor the promise made to our seniors. i will restore that funding and make sure we protect medicare. one more thing i'll mention. the president's budget calls for

deficits i'd say good for you, and back him on that, but i can't trust him. >> grover, i tried. i'll give you the last word. 20 seconds, grover. what's your last response? >> the difference, romney and ryan are going to take less spending and lower taxes, and that's better for the economy. >> music to my ears, grover norquist, but it is always great to welcome back dean baker to this program. thanks very much. >> thanks, larry. >> late err on, the white house forced to face their cover-up lies about benghazi gate. vice president joe biden goes on the record before millions of people at tonight's debate. also, is the administration lying to us about the benghazi terror attack? tweet us right no now @thekudlowreport, all one record, #kudlow. we will read your tweets on the air when we come back. don't forget, free market capitalism is the best path to prosperity. nowy what? paul ryan is going to carry free market capitalism in tonight's debate. you all wait and see. that's my prediction. i'm kudlow. we'll be right back. [ male announcer ] the 2013 smart comes with 8 airbags, a crash managem

income individuals to avoid either raising the deficit or burdening the middle class. it's math. it is arithmetic. megyn: now, this professor at princeton, upon whom the obama campaign has based its charge since then, they are citing this professor, harry rosen, to say that romney's plan is going to pinch the middle class -- he has come out and said, i have never said that and i do not believe that. joining me now is lou dobbs, host of "lou dobbs tonight" and a syndicated radio host. it's not often that you see a princeton guide defending a candidate, but he is saying that i am not saying, this will not pinch the middle class. why is that? be. lou: based on a set of assumptions, it is a result of the tax reductions and the marginal tax rate, which would be 20% from top to bottom. megyn: romney is going to cut 20% for everyone? lou: the top 20% will go to 28. and he said, what are you talking about? they stripped away the tax policy center -- which is a left wing outfit. megyn: let's just keep on that, because this is the other thing -- the tax policy center says the middle class

think that he is wrong that debt and deficit is number one. jobs is numbe it adds a sense of bad news amongst the administration, number two, it does hamper obama's ability to press his advantage on foreign policy, which he did have because of the modern and other issues. but this is breaking through and it's going to continue breaking through the house hearings today. there are some curious mishandling of this issue in benghazi. as it continues to break through october, the timing is bad and it gives mitt romney simply stand and say, this guy has made some serious mistakes here. jon: the clear politics have taken a look at independent voters. the rcp average, the rasmussen poll, gallup tracking poll, ibd, all of them have mitt romney just president among independent voters. does that surprise you? >> yes, because it's such a radical shift. but again, i thishift. but again, i think that perception after the debate, maybe more so than the reality, is everything in politics. the perception is that mitt romney swamped the president, he looked more commanding and presidential on the stage

problems. they've got some deficits they need to overcome. i want to go over a couple other numbers. it's all about the honesty and the truthfulness and then the consistency. let's start with the honest and truthful aspect. there you have obama leading romney 44-39 when it comes to just how honest and truthful you think these candidates are. then when it comes to consistency, which the obama campaign has been hammering away on what they perceive as flip-flops, 47-37. that is what some people, hogan, my dear friend, former intern, which i always like to disclose, is a trust deficit. is it? >> well, so much of american politics is based on do i know you, do i trust you and do i like you. those are some damaging numbers for governor romney for sure. but look, the fact of the matter is he crushed president obama in that debate and these numbers reflecting what a lot of people saw and that was a center rowtype that had been lined out about romney that he was some cold, heartless business man. he turned that on its ear. conversely, one of the stereotypes out for president obama is he's a grea

. there is no predictability right now. we are in the same place this year that we were last year. you know, these deficits are struggling. lou: you are campaigning for governor romney in ohio. he will continue to do so. in ohio, when they have a 7.2% unemployment rate -- they are enjoying a far better recovery from the recession that nearly all of the country. what is the most persuasive message that you can take to the voters they are? >> well, i think in the state of utah, we are doing well in spite of what washington is doing. but it's not going to be too long. we are all going to bear the burdens that the president has put on us. we will feel the pain the president has put on us. we are doing well in spite of barack obama, nothing thinking is what happened in ohio. what we need to do is we need to get people on their feet and ready to go, get them fired up. it is obvious that during the debate, barack obama has no idea how to get the economy going. mitt romney definitely knows the country this country needs to take the one thank you for joining us, mia love. critics may have panned a new liam neeson m

of $3 trillion in deficit reductions, which is some combination of tax revenue and spending cuts. therein lies the problem. we have a situation where democrats have been loath to to target the deep spending cuts to domestic programs an impediment programs that would be needed to cut a deal, -- entitlement programs that would be needed to cut a deal, and republicans are loath to consider the idea of any sort of new tax revenue that could be added to the picture. so, how do you put this deal together in no way that makes a policy sense, but also would satisfy the political differences on either side? it really is difficult. if you look to the projections, people say if we do not do anything, this would be great for the nation put the deficit, because tax revenues would automatically go up, spending would go down, and our national deficit would nearly be cut in half. that is a great outcome. yes, it is, but the other hand, the economy, which is in a fragile state, would decline, and we've seen projections of a 0.5% reduction in gdp growth which experts say would put the economy in a

. >> it is an alluring prospect to cut taxes on the wealthiest people, reduce the deficit, but the mass dictates you cannot have it all. the arithmetic, as president clinton said. the reality is, any path forward that promises to cut rates will fail to reduce the deficit or fail to protect the middle class from a net tax increase. you can at most achieve two of these goals. anyone pushing a plan purporting to accomplish all three is not telling the truth. the sooner we are honest with ourselves about this, the easier it will be to negotiate an actual compromise on taxes and on deficit reduction. host: senator charles schumer, democrat, new york, yesterday, talking about these negotiations on the so-called fiscal cliff. the gang of eight is trying to come up with some alternative plan to address that. we're spending a couple more minutes here, one or two more phone calls about the supreme court hearing the affirmative action case. they are going to release the audio of the arguments on friday after 1:00 p.m. we will put that up and air that on friday. go to c-span.org for more details about when all

to cut the deficit in half in four years. we have four budget it is and four trillion dollar deficits. a debt crisis is coming and we can't keep spend borrowing like and spending money we don't have. leaders run to problems to fix problems. >> steve: i got this tweet. why was bush crusify biden didn't get information on the intelligence community and that is okay. >> steve: ultimately some polls went out and they did snap pollings. cnn paul ryan . cnbc. winner 20 points. >> brian: cbsdid joe biden. >> steve: they did a focus group for 50 people. >> gretchen: we have frank coming up. and we'll show you that. now the rest of the head lineups for friday. one month after ambassador stevens was ciled. lawrence pope is the new charge of affairs. he will represent. pope retired 12 years ago and an ambassador to chad and political advisor for the special command and special operations in the middle east. governor mitt romney getting a spiritual boost from billy graham. >> reverend graham added he would do everything to help him. franklin graham has provided council to every president since ha

the city's $300 million budget deficit without raising taxes and fees this year. in his annual budget speech, emanuel took aim at chicago's pensions, warning that without reform, the city could raise property taxes in the future by as much as 150%. that is tough news. >> that is tough sledding. in "the wall street journal," the deaths of four americans on the attack on the consulate in benghazi sparked political fighting during hearings on capitol hill yesterday. security officials charged with protecting the compound testified that requests to keep an american military team in libya were denied. and that protection was cut in the weeks leading up to the deadly assault. >> we were fighting a losing battle. we couldn't even keep what we had. we were not even allowed to keep what we had. >> it was abundantly clear, we were not going to get resources until the aftermath of an incident. >> this story is going to just grow. and it's looking very, very bad for the administration and the decisions that were made to cut security there. state department officials have said that keeping the tea

. bush left office eight years later we had a $1 trillion deficit. republicans doubled the national debt from 5 trillion to 10, 11 trillion. barack obama has taken the 11 trillion to 16, 17 trillion. under his own proposals and his own projections, that national debt will go over 20 trillion by the time he leaves office. both parties have been reckless and irresponsible. >> so is there any way to reduce it here in the u.s. without extreme austerity measures? >> well, we're going to see what happens when we reach the fiscal cliff. i think there is a way. >> are we going over that cliff? >> i don't think so. >> do you think they're going to come together before january 2nd? >> only because you're going to have enough ceos and people who contribute to democrats and republicans alike that go, kids, kids, come here. come here. let's gather around. we're going to stop supporting you if you don't stop acting so reckless. they've got no choice. the markets are going to kill us. you know, right now we've got again 16, $17 trillion national debt. this past year. every dime that we took in as a gov

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